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| Bankingmanagement » Banking Management » Customer Management in Banking |
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Customer Management in Banking |
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Banking Management is an interrelated branch of fundamental management studies. It includes a number of categories and sub-categories such as financial management, financial asset management, personal financial management, public financial management, money management, risk management, knowledge management, corporate banking management, banking strategic planning, customer management, finance management, online banking management, banking processes and banking technology and so on. A Banking Management system uses numerous management tools to steer the existing set of information provided by the production information system.
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Customer Management in Banking refers to the customer relationship management. Since banking operations are primarily oriented to customer benefits, a healthy relationship with the customers meeds to be maintained throughout. Customer Management in Banking is a concept which is implemented by private as well as public sector banking organizations.
The purpose of banking customer management is not just setting up a rewarding relationship with the customers, but also, and more importantly, analyzing customer psychology. Customer management is practised to cover third party vendors and financial partners as well.
There are various types of banks depending on the services offered. There are retail banks, corporate banks, commercial banks, community banks, postal savings banks, offshore banks, savings banks, investment banks and so on. Customer Management in Banking is a service which incorporates a broad spectrum of customer facilities including saving and depositing money, issuing loans to individuals as well as to companies, facilitating monetary transactions, cashing cheques, issuing debit, credit and ATM cards, providing financial advisory services, telephone banking, online banking, etc. This management service helps a great deal in promoting the brand image of a particular bank.
Premier banks from all around the globe have included Customer Management in Banking in their professional training setup. Bank officials at all levels are extensively taught about how to communicate with customers effectively. Customer retention policy is directly related to this wing of professional study courses.
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